Does the finance take a leading role in corporate reporting? What are the areas where the fianace chief is not involved or responsible for?
What is the role of finance in corporate reporting?
Answers
Please define what you mean by corporate reporting.
My definition is any financial type report or report containing financial data which is used internally or externally.
If it is used internally and is produced by the
If the report is going to the Board, or being used publicly, then yes, I would want a person of authority/authorized in accounting/finance to sign-off that the information is correct and interpreted correctly.
If by "corporate reporting" you mean "
Thanks Mr Charley and Mr Wayne
1
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What about compliance reporting to investors? It is a mix of financial and investment performance.
Thanks, Bryan
If you include social, environmental and governance responsibility in 'reporting' then you should tap your internal auditors to shoulder that role, ideally with oversight from a Board level committee.
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Thanks Don
This is an interesting question in so much as it is the same challenge that I have when talking to our teams.
I have long held that finance that the finance function does take the lead in the corporate reporting but only up to the point of calling out the historical numbers and describing the trends and past behaviour. The classic scorekeeper role. They have to, because ultimately they are the ones who calculate the extent of assets, liabilities and manage cash flow and capital. They're also the ones who have to deal most often with the auditors, regulators, the taxman and investors.
There may be a strong element of statistical reporting but that reporting may come from groups outside core finance like
A more interesting question around this may be what you define as 'corporate reporting' :-)
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Thanks Clinton
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